It was discovered that Obama granted AIG a free legal pass to give high bonuses because of the following stipulation in Obama’s stimulus bill he personally orchestrated and signed into law:
From page H1412 of the Final Stimulus Bill, “SEC. 111. EXECUTIVE COMPENSATION AND CORPORATE GOVERNANCE:
“(iii) The prohibition required under clause (i) shall not be construed to prohibit any bonus payment required to be paid pursuant to a written employment contract executed on or before February 11, 2009, as such valid employment contracts are determined by the Secretary or the designee of the Secretary.”
This amendment provides an exception for contractually obligated bonuses agreed on before Feb. 11, 2009, which exempts the very AIG bonuses Obama is condemning every single chance he gets. The amendment is in the final version and is law.
All of Obama's complaining about how these AIG bonuses need to be looked at and prevented in the future ring hollow now.
"This is a corporation that finds itself in financial distress due to recklessness and greed," Obama told a group of small business owners.
"I mean, how do they justify this outrage to the taxpayers who are keeping the company afloat?"
And now for the second most ironic thing I saw today:
Wildlife thrives at Chernobyl
